WestStein business account: 5 reasons to choose our company

Many transactional activities are carried out by entrepreneurs and business representatives. They are closely monitored by the tax authorities. Requests for clarification of the translation, unexpected checks can lead not only to unnecessary nervous tension, but also to significant fines received simply due to the owner’s ignorance. It’s very good if this has not happened before, and even if it doesn’t happen, we recommend that you carefully study the features that distinguish the WestStein online account specifically in the format of doing business from a regular account, who needs it to conduct business, what purpose it has, etc.

For whom is it important to open a corporate account for business?

The financial company WestStein consistently cooperates with representatives of different directions, forms and sizes of business. The services provided are aimed to the maximum at optimizing the client’s work and improving their business.

Every legal entity must have an account. It should be a current account, and not the one owned by one of the managers. It is important. An entrepreneur who receives or transfers funds by bank transfer also cannot do without a current account. There is, of course, the option to work exclusively with cash. But it’s unlikely that anyone else can fully use this under current conditions.

To make payments on bills and accept transfers, to control accruals (planned), to conduct commerce in general, as well as to clearly control the movements of accruals from clients to the account of the company, a corporate account should be opened. It is needed by both individual entrepreneurs and legal entities.

The corporate account also differs in the purpose of the transfers. Each client receives his own number for identification by the bank for carrying out transactions. An enterprise needs it for transfers and payments, an entrepreneur needs it to manage their activities (payment for services/goods, rent, taxes, fees, etc.).

Online business account: purpose

The law provides for mandatory accounting of income and reporting on it to control authorities. A business account provides the following opportunities:

• eliminate restrictions on financial transfers when partners enter into transactions;
• not to monitor the cash limit;
• pay taxes on time and without difficulty;
• pay salary;
• conduct online financial transactions.

The five benefits listed are the very five reasons for cooperation that this material is dedicated to.
And as a convenient addition to such an account, a prepaid WestStein Mastercard can be used.

How to open a current account for business

There are no difficulties. Opening it is almost as easy as opening a virtual debit card to an individual. But there are some peculiarities in the procedure.
Such a special account is not considered mandatory. But it is more convenient to work with it.

Five advantages of using key ones can be identified:

• There is no need to go to the bank office to make the operation. Everything is done through special software.
• You can use the terminal to accept payments.
• Non-cash transactions simplify business interaction with partners.
• It is convenient to generate reports for the tax authorities.
• It is easy to pay taxes.

Of course, the account has many more advantages. But these are the main ones that encourage you to make the right and informed choice.
Registration: features
The procedure is simple. Especially if you make a reservation/booking of an account in advance. But even without this, in principle, everything happens quickly.

After checking the documents, the employee will write:

• An application;
• A questionnaire;
• An agreement.

The representative will study the documents, if there are questions, he/she will figure them out, if there are no questions, then he/she will sign them, affix a seal and receive ready-made details, certificates and access.
It is not always necessary to immediately open a specific corporate business account, but more often than not, most entrepreneurs opt for simultaneous registration of the full package, so as not to return to it later.

WestStein is a guarantee of high-quality and timely resolution of financial and accounting issues. These are reliable transactional actions, high-quality accounting and support, timely changes to comply with the requirements of new laws, and cooperation with different directions, forms and sizes of business.